January 1, 2020


Initial U.S.-China trade deal has major hole: Beijing's massive business subsidies (David J. Lynch, Dec. 31, 2019, Washington Post)

President Trump's trade deal with Beijing leaves untouched the marriage of business and government known as China Inc. that American executives for nearly two decades have said tilted global markets against them.

Trump insisted for months that he wanted to resolve all outstanding trade issues with China in a single, comprehensive accord that would refashion the Chinese state's economic role. As late as September, he rejected talk of a partial agreement, saying instead that he wanted "the big deal."

The two sides discussed industrial subsidies in the early rounds of negotiations over an agreement that exceeded 150 pages. But Chinese officials resisted making structural changes, and by the time officials settled this month on an 86-page partial accord, any commitments to reduce subsidies had been excised.

when you're getting your donald handed to you, declare victory and cave.

Posted by at January 1, 2020 9:35 AM


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